OKCoin Grant Dishes $100K to Bitcoin Payment Processor

Completing its second independent developer grant, crypto exchange OKCoin has donated $100,000 to open-source crypto payment processor BTCPay Server.

OKCoin started up its Independent Developer Grant in 2019, according to a statement provided to Cointelegraph.

The grant aims to give capital to open-source Bitcoin product builders.

OKCoin gave its inaugural developer grant to Bitcoin Core developer Fabian Jahr back in February 2020, detailed in a blog post from OKCoin.

"We created the OKCoin Independent Developer Grant that embodies three tenets we believe are crucial to supporting crypto developers: focus on free or open-source software, protect independence and encourage decentralization."The new grant puts funding toward crypto payment adoption.

BTCPay Server gives online vendors and sites a way to accept and incorporate global Bitcoin payments, thus, giving BTC greater usability, the statement said.

BTCPay differs from other payment processors, such as BitPay.

"BTCPay Server is a free and open-source payment processor," BTCPay Server contributor Pavlenex told Cointelegraph.

"BTCPay Server is a code, not a company, it relies on the network of contributors around the internet." BTCPay also does not involve third parties or added fees, Pavlenex added.

OKCoin's move supports a project adding crypto payment channels to the mainstream world, while keeping with the decentralized and open-source movement.